Apple Inc. to pay $14 billion to the European Union
Apparently Apple Inc. had a deal with the Republic of Ireland government where they could distribute their products all over the European Community and not pay taxes on it. This deal however for European communities standards is considered illegal and therefore the Republic of Ireland was at fault and because of that the electronics giant will have to pay back all the tax exemptions for six years deal and if they don’t all their assets in the European Community will be frozen immediately.
If that occurred in the United States then we would be recovering close to $1 trillion, but that will never happen because we have a crooked Senate and House that bend over to the highest bidder, I could mention several companies that are taxes since in the United States but still keep all their workers at minimum wage or they are making their products exclusively in China, Taiwan, Thailand Or Cambodia.
So what happens now? Well it’s not a slow process like it would be here in the United States, it is actually extremely swift and Apple Inc. and roughly 24 basic pay of the total amount due for all their operations in the European Community will be closed off until further notice and not necessarily the payment is made, Apple Inc. obviously is not happy about this because all their products made in Highlands eventually end up either in South America or even here in the United States and across the border to Canada.
The European Union is aware of this and is taking total advantage. Which actually an advantage really it isn’t as I have read the statute considering tax exempt of the European Union, it is a booklet of 11 pages and is explained in detail what the Republic of Ireland the Internet deal with Apple Inc. is considered highly illegal both parties Republic of Ireland and the iPad makers should have known of this and therefore they are in first person responsible and will pay the price.
Don’t think that Republic of Ireland will get away with this with a slap on the backside, they also will see their funding filtered and there is a special theme in Brussels in Belgian that is now investigating other deals that the Republic of Ireland could have established with other US giant’s such as Nike for example.
This could be a can of worms for US Incorporated that just opened up from the inside.